Trump Touts Beef from Argentina to Help Drive U.S. Beef Prices Lower

U.S. President Donald Trump said on Friday that his administration was working to lower the price of beef in the country.

"We are working on beef, and I think we have a deal on beef," Trump told reporters at the White House.

The price of beef is "higher than we want it, and that's going to be coming down pretty soon too. We did something," Trump added, without elaborating.

Beef prices have climbed to record highs after cattle ranchers slashed their herds due to a yearslong drought in the western United States that dried up lands used for grazing and raised feeding costs.

Source: Reuters